Abstract: With the advancement of energy transition, promoting the efficient use of multi-energy flexible resources while ensuring the revenue of energy subsystems contributes to the diversified and equitable energy market. In this paper, we first design a combined electricity-heat (EH) market system based on virtual heat transactions to incentivize price-based responses. With park operators (POs) as the major players, we propose a joint EH decision-making strategy considering integrated demand response (IDR) and dynamic revenue allocation. It aims to reflect the impact of revenue allocation between EH subsystems (EHS) on decision-making in real-time through IDR. Based on this, a joint EH bilevel strategic model is established. The optimal bidding strategy for POs in the day-ahead market is built at the upper level. At the lower level, it includes three problems, i.e., the electricity market clearing, heating pricing, and revenue redistribution between EHS based on Nash bargaining to guarantee the fairness of cooperation. Then, the model is transformed into a single-level mixed-integer linear programming problem to be solved by the Karush-Kuhn-Tucker (KKT) condition and the linearization method of strong duality theorem and binary expansion. By numerical tests of a practical city energy system, the proposed strategy can effectively solve the bidding and pricing problems in the day-ahead market and improve overall and individual revenues by more than 20%.